image Universal KYC Solution

Obtain a standardized, reusable Universal KYC Passport
for your legal entities

The Universal KYC Solution replaces repetitive requests for legal entity documentation and beneficial ownership information with a single, reusable master record.

Users & Industries

  • Family Offices
  • Investment Entities & SPVs
  • Fund Management
  • Offshore Structures
  • Corporate & Fiduciary Services
  • Trust Management
  • Professional Services
  • Captive Insurance Management

A better paradigm for KYC Management

Typical KYC Acquisition Model

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  • Client reacts to multiple institutions' KYC document requests
  • Inconsistent documentary requirements across institutions, arbitrary identification scope and exceptions
  • Beneficial ownership and control person analysis of legal structures manually performed by institution
  • Reliance on paper-copy authenticated true copy documents

Universal KYC Solution

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  • Client proactively maintains and shares single master KYC record
  • Standardized documentary requirements, identification scope and exceptions
  • Contains standardized beneficial ownership and control person information for legal structures
  • Electronic format authenticated documents using Blockchain technology

Powered by Innovative Technology

Drawing on a database of legal entity types from over 100 worldwide jurisdictions, the UKYC structure engine uses proprietary technology to standardize the analysis and identification of legal entities and complex structures

Features

  • Secure document repository for legal entity and beneficial ownership documentation
  • Premised on the inherent efficiency of client/advisor supplied and maintained master KYC records
  • UKYC Passport contains all required data points and documents for legal entities and their controllers
  • In-application digital true-copy certification using Blockchain technology enables secure digitization

Benefits

  • Save time, administrative costs and aggravation from fulfilling repetitive KYC requests
  • Streamlined account opening and relationship formation processes with counterparty institutions
  • Easily maintain and update your entities' master KYC records as documents expire or changes made
  • Paperless, digital process eliminates cumbersome and wasteful paper-based KYC document exchanges

UKYC Solution in 5 Easy Steps

The Universal KYC Solution standardizes the collection, certification, analysis and compilation of legal entity and beneficial ownership information

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Global Entity Support

UKYC is available for legal entities organized in over 100 jurisdictions, with support for additional jurisdictions being added regularly
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A comprehensive solution for client entity KYC collection, beneficial ownership analysis and document maintenance

"Delays in processing fund subscriptions and redemptions because of incomplete AML/KYC documents is a serious problem for the fund administration industry. The manually intense process for the administrator and lack of transparency for the end investor translates to an inefficient process that results in poor client service. Commercial Passport’s digital KYC solutions have the potential eliminate this persistent relationship irritant."

Users & Industries

  • Fund Administration
  • International Banking
  • Wealth Management & Advisory
  • Insurance
  • Professional Services
  • Corporate & Fiduciary Services
  • Trust Management
  • Offshore

A better paradigm for KYC Acquisition

Typical KYC Acquisition Model

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  • Client reacts to multiple institutions' KYC document requests
  • Inconsistent documentary requirements across institutions, arbitrary identification scope and exceptions
  • Beneficial ownership and control person analysis of legal structures manually performed by institution
  • Reliance on paper-copy authenticated true copy documents

Universal KYC Solution

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  • Client proactively maintains and shares single master KYC record
  • Standardized documentary requirements, identification scope and exceptions
  • Contains standardized beneficial ownership and control person information for legal structures
  • Electronic format authenticated documents using Blockchain technology

Powered by Innovative Technology

Drawing on a database of legal entity types from over 100 worldwide jurisdictions means, the UKYC structure engine uses proprietary technology to analyze and report beneficial ownership and control.

Features

  • Fully digital platform for acquiring client due diligence/KYC for legal entities
  • Premised on the inherent efficiency of client/advisor supplied and maintained master KYC records
  • Standardized beneficial ownership and control analysis for private legal structures, with structure chart
  • End-to-end chain of custody control of component documents using Blockchain technology
  • Paperless, digital process eliminates cumbersome and wasteful paper-based KYC document acquisition

Benefits

  • Paperless process provides environmental best practice without compromising integrity and security
  • Always-current information: fresh client documents acquired automatically on expiry or as changes made
  • Use as a verified, current data source for FATCA, CRS and AML processes
  • Reduce cybersecurity risk over client documents through use of secure, trusted repository
  • Opportunity to reduce KYC acquisition, analysis and maintenance costs through mutualized model

UKYC Solution in 5 Easy Steps

The Universal KYC Solution standardizes the collection, certification, analysis and compilation of legal entity and beneficial ownership information

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Global Entity Support

MKYC is available for legal entities organized in over 90 jurisdictions, with support for additional jurisdictions being added regularly.
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